Santos

Summary

Santos Limited explores for, develops, produces, transports, and markets hydrocarbons for homes and businesses in Australia and the Asia Pacific. Its five principal assets are located in the Cooper Basin, Queensland and NSW, Papua New Guinea, Northern Australia and Timor-Leste, and Western Australia. The company also holds an asset in Alaska; and engages in the development of carbon capture and storage technologies. In addition, it produces natural gas, liquefied petroleum gas, ethane, methane, coal seam gas, liquefied natural gas, shale gas, and condensate, as well as oil. The company's proved plus probable reserves include 1676 million barrels of oil equivalent. Santos Limited was incorporated in 1954 and is headquartered in Adelaide, Australia.


History

Santos was incorporated on 18 March 1954, with its name an acronym of South Australia Northern Territory Oil Search. Its core business was initially built on gas discoveries in the Cooper Basin, South Australia, with the discovery and development of the Gidgealpa 2 well in 1963 and Moomba 1 in 1966. It signed supply contracts with the South Australian Gas Company, the Electricity Trust of South Australia and the Australian Gas Light Company, commencing supply in 1969.After oil was discovered at Tirrawarra, near Moomba, South Australia, in the early 1970s, the company developed its liquid supply operations, which included a plant at Moomba and a fractionation and loading facility at Port Bonython.In the 1990s, the company expanded, acquiring other companies and developing its operations both onshore and offshore in Australia, Indonesia, Malaysia, Vietnam and Papua New Guinea. Also in this decade it acquired interests in petroleum in the United States and United Kingdom, as well as operations in the Timor Sea and Western Australia. The Ballera gas plant in South West Queensland was established in 1991 and upgraded in 1997.In 2015 Santos began producing LNG, shipping it to South Korea.

In August 2018 Santos announced the acquisition of Australian oil and gas company Quadrant Energy for $2.15 billion. As part of the deal, Santos obtained Quadrant's 80% stake in Dorado in the Bedout Basin in northern Western Australia.In May 2020 Santos completed its acquisition of ConocoPhillips' northern Australia and Timor-Leste assets for US$1.265 billion as well as a contingent payment of US$200 million, which gave Santos control of ageing offshore assets in Bayu-Undan, subsea assets in the Timor Sea, and onshore gas plant Darwin LNG , which included the Bayu-Undan to Darwin Pipeline. At the completion of the deal with ConocoPhillips, the interest of Santos in these assets was increased to 68.4%, The sale was contingent on a final investment decision on the future #Barossa project, which once concluded increased Santos' interest in the project to 62.5%.


Mission

Santos is an Australian energy pioneer. We have safely and sustainably discovered, developed and delivered natural gas to the people of Australia and Asia for more than 60 years.


Vision

Santos' foundations are based on safe, sustainable operations and working together with our shareholders, host communities, governments and business partners.


Key Team

Mr. Anthony Myles Neilson B.Com., BComm, CA, F.C.A., FFin, M.B.A., MBA (Chief Commercial Officer)

Mr. Brett Anthony Darley (Pres of Upstream Oil & Gas)

Ms. Anthea Lynne McKinnell B.Com., F.C.A. (Chief Financial Officer)

Mr. Andrew Nairn B.Comm (Group Exec. of Investor Relations)

Ms. Jodie Hatherly B.A., L.L.B. (Gen. Counsel & Company Sec.)

Mr. Angus Jaffray B.A., M.B.A., MBA (Exec. VP of People, Culture & Transformation)

Mr. Nick Fox (Head of Environment & Access)


References
Santos
Leadership team

Mr. David Maxwell Banks B.A., B.E., M.B.A. (Chief Operations Officer)

Mr. Brett Kenneth Woods B.Sc. (Pres of Midstream & Clean Fuels)

Products/ Services
Energy, Energy Management, Oil and Gas
Number of Employees
1,000 - 20,000
Headquarters
Adelaide, South Australia, Australia
Established
1954
Company Registration
SEC CIK number: 0000800861
Net Income
500M - 1B
Revenue
Above - 1B
Traded as
ASX:STO
Fri Mar 01 2024
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